Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Given Average Rating of “Moderate Buy” by Brokerages

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $59.5625.

Several analysts have recently commented on the company. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. cut their price target on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. The Goldman Sachs Group cut Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $61.00 to $25.00 in a research note on Tuesday, March 24th. Cantor Fitzgerald boosted their price objective on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Finally, Truist Financial raised Ultragenyx Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th.

Insider Buying and Selling

In related news, Director Shehnaaz Suliman sold 5,740 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.12, for a total transaction of $144,188.80. Following the transaction, the director directly owned 27,951 shares of the company’s stock, valued at $702,129.12. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Horn sold 4,683 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, May 1st. The stock was sold at an average price of $24.90, for a total value of $116,606.70. Following the sale, the chief financial officer owned 110,342 shares in the company, valued at $2,747,515.80. The trade was a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,002 shares of company stock worth $575,039 over the last three months. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently modified their holdings of RARE. Assetmark Inc. increased its position in shares of Ultragenyx Pharmaceutical by 1,706.7% during the third quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 1,024 shares during the period. Huntington National Bank boosted its position in shares of Ultragenyx Pharmaceutical by 56.2% in the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 393 shares during the period. Danske Bank A S purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at approximately $39,000. Parallel Advisors LLC grew its stake in Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 1,440 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Ultragenyx Pharmaceutical by 205.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,169 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Up 8.3%

NASDAQ RARE opened at $26.91 on Thursday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -4.40 and a beta of 0.37. Ultragenyx Pharmaceutical has a twelve month low of $18.29 and a twelve month high of $42.37. The stock has a fifty day simple moving average of $24.17 and a 200 day simple moving average of $24.91.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The firm had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. During the same quarter in the previous year, the business posted ($1.57) EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts expect that Ultragenyx Pharmaceutical will post -4.53 earnings per share for the current fiscal year.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.